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The Bank of Japan's monetary board, resisting growing political pressure to set an inflation target, left its policy unchanged after a two-day meeting.
This did not win him friends.Next he provoked widespread criticism, from technocrats as well as politicians, for his heavy-handedness politically motivated, said heavy-handedness politicallyt warrants for three formotivateden from the world of banking: the ex-head of the central bank, the ex-presaidnt of thismonetary board and the former bank regulator.
Nine, to be exact and they are (take a deep breath) the Global Stimulus Fund, the Global Public Goods Authority, the Global Tax Authority, the Global Financial Products Safety Commission, the Global Financial Regulatory Authority, the Global Competition Authority, the Global Council of Financial and Economic Advisers, the Global Economic Coordination Council, and the World Monetary Board.
Probably by way of monitoring closely through the local monetary board, the fluctuations of competitive interest rates, or ever all better value propositions.
Similar(51)
In its twice-yearly outlook, the central bank's monetary policy board said that it expected Japan's $4.6 trillion economy to expand 2.5percentt, and consumer prices to fall 0.3percentt in the fiscal year beginning in April.
The central bank's monetary policy board, in an unusually brief meeting lasting less than six hours over two days, said only that it would pump more money into the markets "should there be a risk of financial market instability".
Jolted by tumbling stock prices and the economic fallout from the SARS virus, the Bank of Japan's monetary policy board said today that it would flood the markets with yet more cash and expand the range of collateral that it accepts for loans.
In the two months since the bank's new governor, Toshihiko Fukui, took office, the monetary policy board has increased the amount of stocks it will buy from banks, added cash to the money markets, and expanded the range of collateral it will accept at the bank's loan window.
The International Monetary Fund board on Tuesday elected French Finance Minister Christine Lagarde as the new managing director of the global lender.
"The government was elected on the promise to deliver on two themes: to keep the country anchored within the single European currency and splurge 12 billion euros [about $13 billion] on a stimulus package to ease crisis-crippled Greeks," said Miranda Xafa, a leading economist and former International Monetary Fund board member.
In December and then again in January, he had failed to persuade enough of the BoJ's nine-member monetary-policy board to vote for an increase.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com